1,1859. USD CAD is in a consolidation after the last bearish movement. The volatility is low. Bollinger bands are parallel and form the trend. ForexTrend 1H, 4H (Mataf Trend Indicator) is in a bearish configuration. 4H ForexSto (Modified Stochastic) indicate a bearish pressure on USD CAD. The downtrend should continue to gather momentum.
=> We could take a short position at 1,1860. We will put the stop loss above 1,1940 (-80 pips). The targets are 1,1740 (+120 pips, risk/reward 1:1.5), 1,1630 (+230 pips, risk/reward 1:2.9) . Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 2.
1,1930 - 1,1990
1,1840 - 1,1740